Earnings Per Common Share or Unit (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share Unit

The computation of our basic and diluted earnings per share and unit was as follows (in thousands, except per share and unit amounts):

	Three Months Ended
	March 31,
Prologis, Inc.	2021		2020
Net earnings attributable to common stockholders – Basic	$	365,815	$	489,418
Net earnings attributable to exchangeable limited partnership units (1)		10,320		14,049
Adjusted net earnings attributable to common stockholders – Diluted	$	376,135	$	503,467
Weighted average common shares outstanding – Basic		738,998		698,272
Incremental weighted average effect on exchange of limited partnership units (1)		21,042		20,230
Incremental weighted average effect of equity awards		4,918		5,481
Weighted average common shares outstanding – Diluted (2)		764,958		723,983
Net earnings per share attributable to common stockholders:
Basic	$	0.50	$	0.70
Diluted	$	0.49	$	0.70

	Three Months Ended
	March 31,
Prologis, L.P.	2021			2020
Net earnings attributable to common unitholders	$	376,083		$	503,388
Net earnings attributable to Class A Units		(3,991	)		(5,651	)
Net earnings attributable to common unitholders – Basic		372,092			497,737
Net earnings attributable to Class A Units		3,991			5,651
Net earnings attributable to exchangeable other limited partnership units		52			79
Adjusted net earnings attributable to common unitholders – Diluted	$	376,135		$	503,467
Weighted average common partnership units outstanding – Basic		751,679			710,141
Incremental weighted average effect on exchange of Class A Units		8,062			8,062
Incremental weighted average effect on exchange of other limited partnership units		299			299
Incremental weighted average effect of equity awards of Prologis, Inc.		4,918			5,481
Weighted average common units outstanding – Diluted (2)		764,958			723,983
Net earnings per unit attributable to common unitholders:
Basic	$	0.50		$	0.70
Diluted	$	0.49		$	0.70

(1) The exchangeable limited partnership units include the units as discussed in Note 7. Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same.

(2) Our total weighted average potentially dilutive shares and units outstanding consisted of the following:  

	Three Months Ended
	March 31,
	2021		2020
Class A Units		8,062		8,062
Other limited partnership units		299		299
Equity awards		7,179		7,709
Prologis, L.P.		15,540		16,070
Common limited partnership units		12,681		11,869
Prologis, Inc.		28,221		27,939